Do you have your eye on one of the vehicles in our new Honda car inventory? If so, we congratulate you on having excellent taste in automobiles! We also invite you to visit our Honda dealership near Manteca, CA so you can take your favorite Honda model out for a test drive.
If you want to purchase or lease a brand-new Honda automobile, you may want to think about buying gap insurance. Gap insurance is an insurance policy that will pay the difference between the balance of your car loan and the market value of your vehicle if it’s totaled due to an accident or theft, or if your automobile is stolen and never recovered.
You may wonder why you’d need gap insurance since you already have standard car insurance. Your regular car insurance will only pay up to the current value of your vehicle if it’s totaled. If you owe more than what your car is worth when it’s destroyed, you may have to dip into your savings to pay off your car loan. With gap insurance, you won’t have to do that because your gap insurance policy will cover the difference or gap between what you owe and what your automobile was worth when it was ruined.
If you’re going to buy a new Honda vehicle, gap insurance is optional. There are some instances when it’s a good idea to buy gap insurance, such as a driver putting down very little on a car or a motorist financing an automobile for 60 months or more.
If you take advantage of one of our Honda lease specials, you may be required to get gap insurance. Don’t let that stop you from leasing a car though because gap insurance is very affordable.
To continue the discussion about gap insurance, contact Lodi Hodi or stop by our convenient location today.